USD/JPY 91.50 – 22 February 2010

USD/JPY Open 91.64 High 92.09 Low 90.16 Close 91.46
After rising for 2 weeks starting on 4 February, Dollar/Yen traded quietly on Friday, closing the week at 91.46. As there ate no economic major events for Japan and USA today till BOJ meeting at 23:50 GMT, we may see another day of range movements. Going above Friday’s top and first resistance at 92.09 may trigger further powerful bullish momentum towards next objective 92.88. Break bellow Thursday’s bottom and nearest current support at 90.60 may weaken the Dollar against the Yen. Quotes are currently bellow the 20 and above the 50 EMA, signaling for descending pressure. The RSI, MACD and CCI indicators are all negative and declining, giving, overall short signals.
Technical resistance levels: 92.09 92.88 93.41
Technical support levels: 90.60 90.11 89.40

Trading range: 91.60 – 91.00
Trend: Downward
Sell at 91.50 SL 91.80 TP 91.10

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